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Financial results 2016/2017

During a year marked by substantial loss, company has taken measures to reinforce financial strength

and realign content strategy

• Consolidated revenue of €151.7 million

• Full year loss of €119.9 million, considerably higher than past years, as per prior warning, driven

by underperforming slate

• Entered new multi-year US theatrical distribution agreement

• Focusing future slate to more closely align with company’s historic successes

• 17/18 line-up led by three major global franchises : Valerian and the City of a Thousand Planets,

Taxi 5 and the second season of the TV series, Taken

• Closed multiple transactions including debt restructure, capital increase and sale of non-strategic

assets to strengthen treasury

Saint-Denis, June 28th

2017 – EuropaCorp, one of the leading independent film studios in Europe, film

producer and distributor, reports its annual consolidated income, which ended on March 31st, 2017, as approved

by the Board of Directors at its meeting on June 26th, 2017.

1 To be compliant with IFRS 5, the multiplex and music publishing activities – sold or held for sale – have been restated within the

consolidated 2016-2017 financial statement above. The net income for that specific lines of business (-0.3 M€) has been booked directly in

« Net Income – Group Share ».

€ million FY IFRS 5

2016/20171

FY

2016/2017

FY

2015/2016 ∆ 12 months

Revenue 144.2 151.7 147.3 +4.4

Cost of sales -217.1 -221.4 -110.0 -111.4

Operating margin (before overhead) -72.9 -69.7 37.3 -107.0

% of revenue -50,6% -45,9% 25,3%

Operating profit -122.6 -122.2 -22.3 -99.9

% of revenue -85,0% -80,6% -15,1%

Net income – Group share -119.9 -119.9 -27.7 -92.2

Equity 96.7 96.7 155.2 -58.5

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� Consolidated revenue of €151,7 million, an increase of 3.0%, driven by foreign sales and SVOD

and free TV sales in the United States, breaks down as follows:

Revenue from International Sales was €48.8 million or 32.2% of total revenue.

Revenue from Theatrical distribution in France and the United States was €13.7 million, up 40.1% thanks to a

larger volume of films, representing 9% of total revenue.

Revenue from Video & VOD in France and the United States was €17.4 million, up almost 15%, representing

11.5% of total revenue.

Revenue from Television sales & SVOD in France and the United States was €29.9 million, up more than 25%

thanks to the SVOD sales in the United States, representing 19.7% of total revenue.

Revenue from TV Series productions was €23.6 million, up more than 8%, or 15.5% of total revenue.

Revenue from Subsidies was €3.9 million.

Revenue from Multiplexes, sold in December 2016, was €5.2 million.

Revenue from other activities of the Group (licenses, partnerships, music publishing and post-production, etc.)

was €8.2 million.

� Annual loss of €119.9 million due to:

� Poor performance of English language slate, including losses from 9 Lives, Shut In, Miss Sloane and

The Circle.

� Disappointing box-office revenues that failed to offset distribution costs to support wide releases.

- More than €100 million of US distribution costs

In response to this significant underperformance, company has made dramatic changes to its US distribution

strategy, downsizing distribution and marketing overhead and entering into a multi-year agreement for STX

Motion Pictures Group to provide theatrical marketing and distribution services for future releases. Management

believes these changes will lead to superior box-office performance, more efficient P&A spend, and will

ultimately result in a lower distribution costs to release films in the US.

Further in response to these issues, company is refocusing development and production to more closely reflect

core strengths in action, sci-fi genres and with greater emphasis on productions written and directed by

company founder Luc Besson.

� Net operating cash flows

The net operating cash flows amount to €2.4 million for FY 2016/2017, down from €81.7 million for the previous

financial year. This decrease can be explained by the significant amount of P&A costs disbursed during the fiscal

year for the release of the films in the United States, while the total amount of corresponding revenues on those

films has not yet been recognized nor collected.

In response to the company’s recent underperformance, EuropaCorp closed multiple transactions during the

fiscal year to provide additional financial strength. These include restructuring the company’s first and second

lien debt, raising €60 million in equity from FF Motion Invest (a subsidiary of Fundamental Films) and sale of the

multiplex activities to Cinemas Gaumont-Pathé for more than €20 million.

� Investments for the future

The 2016/2017 financial year was marked by a high level of investment in world-class films and TV series. The

company invested €133.7 million with the largest investments being the movie Valerian and the City of a Thousand Planets, and the first season of the TV series, Taken.

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� Perspectives

In responses to FY 2016/2017 results, the Group has set the following priority objectives for the coming year:

- Making the sci-fi epic Valerian and the City of a Thousand Planets a successful new franchise;

- Expanding existing franchises (i.e. Taxi 5 film, second season of Taken TV);

- Refocusing the future slate to better align with company’s historical successes;

- Returning to historical levels of French-language productions; and

- Reducing activities in non-core businesses.

� Films

Five English-language films and seven French-language films, either produced or acquired by EuropaCorp, are

currently in post-production or completed:

- Valerian and the City of a Thousand Planets, directed by Luc Besson, starring Cara Delevingne and Dane

DeHaan. The film is completed. The film will be released on the 21st of July, 2017, in the United States, and on

the 26th of July in France; - Sous le même toit, directed by Dominique Farrugia, starring Louise Bourgoin and Gilles Lellouche and

produced by EuropaCorp. The film was released in France on April 19th 2017 and has had more than 650

thousand admissions to date;

- Their Finest, directed by Lone Scherfig, starring Gemma Arterton and Sam Claflin. EuropaCorp acquired the

US distribution rights. The film was released in theaters in the United States in April 2017 and has earned $3,6

million in Domestic Box Office (US & Canada) to date; - The Circle, directed by James Ponsoldt, starring Emma Watson and Tom Hanks. EuropaCorp acquired the US

distribution rights. The film was released in theaters in the United States in April 2017 and has earned $20.5

million in Domestic Box Office to date;

- Bad Buzz, directed by Stéphane Kazandjian, starring Eric Metzger and Quentin Margot, and coproduced by

EuropaCorp. The film has been released in France on June 21st;

- CoeXister, comedy by and starring Fabrice Eboué. Ramzy Bedia, co-starring Guillaume de Tonquédec and

Audrey Lamy, and produced by EuropaCorp. The film is completed and is scheduled for release in France on

the 11th of October, 2017;

- Eva, directed by Benoît Jacquot, starring Isabelle Huppert, Gaspard Ulliel and Richard Berry. The film is

coproduced by EuropaCorp and is currently in post-production;

- Carbone, directed by Olivier Marchal, starring Benoît Magimel and Laura Smet, and coproduced by

EuropaCorp. The film is in post-production;

- Renegades, directed by Steven Quale, starring J.K. Simmons and Sullivan Stapleton, and produced by

EuropaCorp. The film is completed;

- Sparring, directed by Samuel Jouy, starring Mathieu Kassovitz, and coproduced by EuropaCorp. The film is

completed; and

- Je vais mieux, directed by Jean-Pierre Améris, starring Eric Elmosnino, Alice Pol and Ary Abittan. The film is

produced by EuropaCorp and is completed.

EuropaCorp also acquired the French distribution rights of The Old Man and the Gun, directed by David Lowery,

with Robert Redford and Casey Affleck. The film is currently in post-production.

Taxi 5, the new installment of the successful film series, will start shooting July 2017. The film will be directed by

Franck Gastambide, starring Franck Gastambide and Malik Bentalha.

� TV series

In May 2017, NBC picked-up Taken for a second season. The 16 episodes of season two will be coproduced by

EuropaCorp Television and Universal Television for the NBC network in the United States and the SVOD platform

SFR Play in France. Production will start July 2017 and episodes are scheduled to air January 2018.

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On the French-language productions side, EuropaCorp Television will be delivering a diversified set of fictions

during the fiscal year 2017/2018, including:

- A new 90’ series from the Mary Higgins Clark for France 3: Rien ne vaut la douceur du foyer; - The Aux Animaux la Guerre for France 3 (6 episodes x 52' minutes);

- The animated series Arthur and the Minimoys, in coproduction with Studio 100 Animation (Maya l’Abeille, Vic le Viking…);

- A TV film for Arte: Je sais tomber;

EuropaCorp Television is also developing other projects such as the series Les Rivières Pourpres (8x52') for

France 2, the French adaptation of the British series Doctor Foster (from Drama Republic) for TF1 in

coproduction with BBC Worldwide France, as well as the TV fiction Traqués for TF1. EuropaCorp also works for

France 2 on the series No Futur, by Fabrice Eboué, planned as a late night program, and for France 3 on the

series Sous la peau.

In sum, EuropaCorp Television is collaborating with a diverse array of French and international broadcasters

across multiple genres.

Financial calendar

� Annual General Meeting : September 2017

� Revenue and consolidated financial statements for the 1st semester : December 2017

� Annual revenue : May 2018

� Annual consolidated financial statements : June 2018

ABOUT EUROPACORP

One of Europe’s leading film studios, EuropaCorp was founded in 1999 and has operations spanning production, theatrical distribution, video and VOD, and French TV sales. With a line-up of films in French and English language and a strong foothold in international markets, the Group has produced France’s biggest international hits in recent years. In 2014, EuropaCorp entered direct distribution for its films in the United States. EuropaCorp also has international rights, partnerships and licensing, production and soundtrack publishing activities. The Group has been producing TV series since 2010. EuropaCorp’s integrated business model allows it to benefit from diversified sources of revenue. EuropaCorp was founded by French filmmaker, screenwriter and producer Luc Besson. The Group owns a catalogue of around 500 movies. For more information, go to www.europacorp-corporate.com

Contacts

EuropaCorp Group NewCap

Lisa Reynaud | Investors Relations | investors@europacorp.com Pierre Laurent | NewCap

Régis Lefèbvre | Communication | rlefebvre@europacorp.com plaurent@newcap.fr | Tel : 01 44 71 94 94

Tel : 01 55 99 50 00

EuropaCorp is listed in Compartment C of Euronext Paris

ISIN code: FR0010490920 – Ticker: ECP